| Election Name: | 1994 Hawaii gubernatorial election |
| Country: | Hawaii |
| Type: | presidential |
| Ongoing: | no |
| Previous Election: | 1990 Hawaii gubernatorial election |
| Previous Year: | 1990 |
| Next Election: | 1998 Hawaii gubernatorial election |
| Next Year: | 1998 |
| Election Date: | November 8, 1994 |
| Image1: | Hawaii Governor Benjamin Cayetano.jpg |
| Nominee1: | Ben Cayetano |
| Running Mate1: | Mazie Hirono |
| Party1: | Democratic Party (United States) |
| Popular Vote1: | 134,978 |
| Percentage1: | 36.6% |
| Colour2: | 000000 |
| Nominee2: | Frank Fasi |
| Running Mate2: | Danny Kaleikini |
| Party2: | BPH |
| Popular Vote2: | 113,158 |
| Percentage2: | 30.7% |
| Image3: | Pat Saiki.jpg |
| Nominee3: | Pat Saiki |
| Running Mate3: | Fred Hemmings |
| Party3: | Republican Party (United States) |
| Popular Vote3: | 107,908 |
| Percentage3: | 29.2% |
| Map Size: | 310px |
| Governor | |
| Before Election: | John Waihee |
| After Election: | Ben Cayetano |
| Before Party: | Democratic Party (United States) |
| After Party: | Democratic Party (United States) |
The 1994 Hawaii gubernatorial election was held on November 3, 1994. Incumbent Democratic Governor of Hawaii John D. Waihee III was prevented from seeking a third term as Governor due to term limits, creating an open seat. Lieutenant Governor Ben Cayetano emerged from a crowded primary to become the Democratic nominee, facing off against former Administrator of the Small Business Administration Pat Saiki, the Republican nominee and Honolulu Mayor Frank Fasi, who ran as the Best Party of Hawaii's nominee. In a very close election, Cayetano beat Fasi, who placed second, by six percentage points and Saiki, who placed third, winning only a plurality of the vote. Fasi's performance was notable in that it was the best performance by a third party gubernatorial candidate in Hawaii's history.